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NIYO SOLUTIONS

NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers.

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NIYO SOLUTIONS
NIYO SOLUTIONS
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Basic Information
NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers. Founded in 2015, NIYO operates as a neo-bank or challenger bank and offers digital banking products and services… Read more
Legal Name
:
Finnew Solutions Pvt Ltd
Headquarters
:
Bangalore, Karnataka, India
Business Model
:
B2C,  B2B2C  
Founding Date
:
Nov 2015
No. of Employees
:
11 to 20
Core Team
:
1.  
VINAY BAGRI
Co-Founder
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2.  
VIRENDER SINGH BISHT
Co-Founder
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Timeline

2015

Company Incorporation

Nov | Company Incorporation

Incorporation of the company

2016

Product Launch

Sep | Product Launch

Launch of NIYO Benefits Card Product

2017

Product Launch

Jan | Product Launch

Launch of NIYO Bharat Product

2018

Product Launch

Sep | Product Launch

Launch of NIYO Global Card

2019

Raised Funding

Jul | Raised Funding

Raised Series B funding round

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Target Market
B2B
We provide integrated payroll, salary banking and HRMS solutions to enterprises (SMEs) who employ blue-collared workers
Client Segment
:
FinTech,  SaaS  
Target Companies
:
Small Enterprise,  Medium Enterprise  
Target Geography
:
India  
B2C
We provide prepaid payroll cards along with mobile app for blue-collared workers and a zero forex mark-up cross border travel payment card for people who travel abroad
User Age
:
35 to 45,  More than 60,  26 to 34,  18 to 25,  46 to 60  
User Income
:
Upper-middle Income,  High Income,  Lower-middle Income,  Lower Income  
Location
:
India  
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Funding

Total Funding

$49.2M

Investors
:
1.  
Social Capital
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2.  
Tencent Holdings
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3.  
PRIME VENTURES
4.  
JS CAPITAL

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Detail Round Breakdown
Round 1
Round 2
Round 3

$35M

Series Name
:
SERIES-B
Date
:
9th Jul 2019
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